The challenge of hiring and keeping sales people is a major headache for sales managers. Traditional recruiting techniques are not working, someone who comes over well during the selection and interview stages does not always deliver the goods and perform. In many cases, they have left again within two years, at a significant cost to your business.
Look at these facts:
|Sales Person Tenure||The average tenure of a salesperson from the time they start a sales job to the time they leave is less than 2 years (Source: Sales Readiness Group).|
|Sales Manager Tenure||The average tenure of a sales manager is 19 months (Source: Eyes On Sales)|
|On Boarding||47% of companies say it take 10 or more months for new salespeople to become fully productive (67% are 7 or more months) (Source: CSO Insights)|
|Quota||58% of reps make quota (Source: CSO Insights).|
|Top Performers||Top performers account for only 17% of the sales workforce and regularly achieve|
|Recruit Costs||Average Recruit Time = 3 months. Lost opportunity Cost during this time is = 3 x £20,000= $60,000 (http://www.salescopilot.com/)|
|Elite Sales Performance||Elite performers (approximately 7% of the sales force) typically close ratio is 73% my sources. By comparison, 80% of salespeople have a close ratio of only 40% (The Rain Group)|
So making sure you have the right salesperson is vital for your business. From this information it’s clear that salespeople are expensive to recruit, on board and keep. The top sales people are outperforming the average performers by a significant amount, hit how do you know when you are recruiting, that you are likely to get a star performer?
But, how do you do that selection process? How can you tell on the day you make the decision – that you have made the right decision?